Forex Today: Market players eye Australia’s jobs data, ahead of US PPI and jobless claims

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The US Dollar surges as inflation data in the United States holds steady, with traders anticipating a quarter-point interest rate cut by the Federal Reserve next week.

Investors await upcoming US data as they remain doubtful about the Fed’s upcoming monetary policy decision. Here’s what you need to know on Thursday, December 12: The US Dollar Index , which tracks the performance of a basket of six peers against the buck, rallies past 106.50, up 0.28%, underpinned by high US Treasury bond yields.

cut their 2024 and 2025 production forecasts on projections of economic weakness in China and India. WTI climbed past $70.00 per barrel. Gold prices continued to ascend for the third consecutive trading day, peaking at around $2,721 a troy ounce, as investors digested soft US CPI data. Silver consolidates shy of $32.00, capped on the downside by the 50-day SMA, and with a clear path to extend its gains.

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